Match List-I with List-II

List-I	List-II
(A) Objective	(I) The first step in planning.
(B) Policy	(II) It provides a basis for interpreting strategy.
(C) Rule	(III) It includes the entire gamut of activities as well as the organisation’s policy.
(D) Programme	(IV) A specific statement that informs what is to be done.

Choose the correct answer from the options given below:

Identify the correct sequence of the Planning Process:

A. Developing premises

B. Selecting an alternative

C. Implementing the plan

D. Setting objectives

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Identify the step of planning that would also involve organizing for labour and purchase of machinery.

“Planning requires logical and systematic thinking rather than guess work or wishful thinking”. Identify the feature of planning highlighted in the aforesaid statement.

A statement of expected results expressed in numerical term which quantifies future facts and figures represent which type of plan?

Setting objectives for a given time period, formulating various courses of action to achieve them, and then selecting the best possible alternative from among the various courses of action available is known as:

Aren has completed his studies and now wants to start his own business. He has undertaken the given steps in the planning process. Rearrange them to create the correct process of planning.

A. He has forecasted the demand of his products, interest rate, price of capital goods, tax rate

B. Aren decides to produce in bulk to reduce cost of production

C. Aren found out that increasing price and reducing quality will reduce his customers, but producing in bulk will increase customers

D. Aren sets an objective to earn 20% profit in the first year of business

E. To achieve the target, Aren can reduce price of product or reduce quality of raw material or produce in bulk to reduce cost of production.

Choose the correct answer from the options given below: